Question: Sheridan Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 168,000 miles. Taxi 10 cost

 Sheridan Taxi Service uses the units-of-activity method in computing depreciation on

Sheridan Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 168,000 miles. Taxi 10 cost $34,300 and is expected to have a salvage value of $700. Taxi 10 was driven 37,000 miles in 2021 and 31,800 miles in 2022. Determine the depreciation cost. (Round answer to 2 decimal places, e.g. 1.25.) Depreciable cost per unit eTextbook and Media Compute the depreciation for each year

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